Digital media companies Inuvo and NYC-based Vertro, both publicly listed, this morning announced a merger agreement whereby Inuvo will acquire Vertro and its ALOT branded consumer applications business in a tax-free exchange of shares at an exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock.
The combined entity intends to distribute and monetize digital media to millions of consumers across multiple platforms, according to a press statement.
In the combined company, Inuvo CEO Richard K. Howe will serve as Executive Chairman while Vertro CEO Peter Corrao will become president and CEO.
The companies assert that, combined, they can reach over 132 million unique Internet users on a monthly basis, and monetize about 2.5 billion page views per year.
The merger, which has been approved by both companies’ board, is expected to close in Q4 2011 or Q1 2012, subject to satisfaction of the closing conditions.
Vertro is a software and technology company that owns and operates the ALOT product portfolio. ALOT’s products are designed to ‘Make the Internet Easy’ by enhancing the way consumers engage with content online. Through ALOT, Internet users can discover best-of-the-web third party content and display that content through customizable toolbar, homepage and desktop products. ALOT has millions of live users across its product portfolio. Together these users conduct high-volumes of type-in search queries, which are monetized through third-party search...
One billion dollars! Thatâ€™s the amount of business-to-consumer advertising transactions we facilitate each year by fusing our online technology and marketing services. Our solutions help advertisers drive targeted transactions and acquire customers either on a pay-per-click, pay-per-lead or pay-per-sale basis through various marketing channels. The Inuvo Platform is the data hub for all of our transactions, products and services. This solution gives advertisers the power to create and manage their own campaigns and provides web publishers with more effective ways to...